Question
3. Use the following information to calculate the change in the company's cash balance for the year. Credit Sales $796589 Cash Sales $507287 Operating Expenses
3. Use the following information to calculate the change in the company's cash balance for the year.
| Credit Sales | $796589 |
| Cash Sales | $507287 |
| Operating Expenses on Credit | $198528 |
| Cash Operating Expenses | $697380 |
| Accounts Receivable (Beg. of Year) | $48090 |
| Accounts Receivable (End of Year) | $80919 |
| Accounts Payable (Beg. of Year) | $48888 |
| Accounts Payable (End of Year) | $101454 |
| Income Taxes Paid | $158799 |
4. Based on the information in the table below, the change in cash for 2020 is
| December 2019 | December 2020 | |
| Net Income | $2031 | $4518 |
| Accounts receivable | 889 | 976 |
| Accumulated depreciation | 1033 | 1456 |
| Common stock | 4215 | 5148 |
| Paid-in capital | 7210 | 8042 |
| Retained earnings | 3252 | 3068 |
| Accounts payable | 702 | 714 |
5. Given the balance sheet information for Argon Corporation, what is the company's net income in 2020 if it paid a dividend of $95256 during the year?
| 12/31/2020 | 12/31/2019 | |
| Current Assets | $50047 | $44265 |
| Fixed Assets | 429942 | 349034 |
| Current Liabilities | 34179 | 50915 |
| Long-term Debt | 330613 | 269417 |
| Common Stock + Paid-in Capital | 5424 | 4558 |
| Retained Earnings | ? | ? |
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Managerial Accounting
Authors: Ray H. Garrison, Eric W. Noreen, Peter C. Brewer
13th Edition
978-0073379616, 73379611, 978-0697789938
